Wambolt & Associates LLC Sells 817 Shares of International Business Machines Co. (NYSE:IBM)

Wambolt & Associates LLC decreased its position in International Business Machines Co. (NYSE:IBM) by 47.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 911 shares of the technology company’s stock after selling 817 shares during the quarter. Wambolt & Associates LLC’s holdings in International Business Machines were worth $200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Blue Zone Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines in the fourth quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in International Business Machines during the 4th quarter worth $373,000. Truist Financial Corp raised its position in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IBM shares. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

International Business Machines Price Performance

IBM stock opened at $250.01 on Wednesday. The stock has a 50-day moving average price of $248.04 and a two-hundred day moving average price of $230.76. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The stock has a market cap of $231.83 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts forecast that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.